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Thread: Gold demand: this is the biggest story of the decade says the Perth Mint

  1. #1

    Default Gold demand: this is the biggest story of the decade says the Perth Mint

    As the Perth Mint saw record sales last year of gold coins, fueled by strong retail demand from Germany, but the big buyers of physical gold to emerge over the last decade remain central banks, this according to Jerry Hicks, sales and business development manager of the Perth Mint.
    “Certainly, the big story over the last decade has been central bank buying of gold. For the 10th year in a row, central banks have been net buyers, and I think a lot of private investors are saying if central banks are buying gold, shouldn’t we also doing the same?” Hicks told Kitco News.




  2. #2

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    If the numbers in this post are true, then China has been sucking up 1/3 to 1/2 of the world gold mining supply for the past few years - https://www.zerohedge.com/news/2020-...wider-downturn

    "Gold Imports into China

    In late 2018, the Chinese customs authority began publishing monthly gold import and export data on its website, while also backdating this data to the beginning of 2017, thus providing a full three years of monthly data to analyse. Note, this is non-monetary gold, i.e. gold that is not central bank gold. Central bank gold, or 'monetary gold' flown into the country by the People's bank of China is exempt from trade statistics reporting.

    With the December 2019 gold import data now released, we can see that China imported 988 tonnes of gold in 2019. This was a huge 34% drop on the record 1506 tonnes of gold which China imported in 2018, but also 22% lower than the 1262 tonnes of gold which China imported in 2017."


    That being the case, I have to wonder what happens to the price of gold if they decide to stop buying.

  3. #3

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    Quote Originally Posted by SilverPalm View Post
    If the numbers in this post are true, then China has been sucking up 1/3 to 1/2 of the world gold mining supply for the past few years - https://www.zerohedge.com/news/2020-...wider-downturn

    "Gold Imports into China

    In late 2018, the Chinese customs authority began publishing monthly gold import and export data on its website, while also backdating this data to the beginning of 2017, thus providing a full three years of monthly data to analyse. Note, this is non-monetary gold, i.e. gold that is not central bank gold. Central bank gold, or 'monetary gold' flown into the country by the People's bank of China is exempt from trade statistics reporting.

    With the December 2019 gold import data now released, we can see that China imported 988 tonnes of gold in 2019. This was a huge 34% drop on the record 1506 tonnes of gold which China imported in 2018, but also 22% lower than the 1262 tonnes of gold which China imported in 2017."


    That being the case, I have to wonder what happens to the price of gold if they decide to stop buying.
    china printed more fiat than the US in the last 10 years, more so now that they have to bail out smaller banks due to economic slowdown and corruptions. My theory is china buying less because Africa is now the main source of raw material for china.
    Gold production from domestic and Africa mining going into Chinese vault won't get reported.

  4. #4

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    Quote Originally Posted by yellowsnow View Post
    ....Gold production from domestic and Africa mining going into Chinese vault won't get reported.
    And that fine sir, is one of the main reasons why it is so hard to come by good information upon which to base decisions. Good raw data is not easy to find these days.

  5. #5

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    Central banks say they are buying as a hedge against inflation. Gold ETF is hot, but physical is still big in most countries, as we can see from the jewelry stores. U.S. has dollar hegemony, people have access to parabolic like equity returns which seem to be following the debt cycle up, thus ..

    To think that anyone anywhere really wants anyone to know they have x,y,z in gold. A good example is always India, we just know they add about a thousand tons a year.

  6. #6
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    Quote Originally Posted by everything1 View Post
    Central banks say they are buying as a hedge against inflation. Gold ETF is hot, but physical is still big in most countries, as we can see from the jewelry stores. U.S. has dollar hegemony, people have access to parabolic like equity returns which seem to be following the debt cycle up, thus ..

    To think that anyone anywhere really wants anyone to know they have x,y,z in gold. A good example is always India, we just know they add about a thousand tons a year.
    USD is toilet paper, ETF imploding will be fun to watch soon...

  7. #7

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    Quote Originally Posted by DutchSilver View Post
    USD is toilet paper, ETF imploding will be fun to watch soon...
    I know how nice it is to be prepared, I just wouldn't bet on it. The faith in digits and the need so many people have to believe they will be taken care of runs very deep......The fraud behind what is happening mean little anymore, most people just want it easy, no matter they must become like little children....
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  8. #8

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    Quote Originally Posted by DutchSilver View Post
    USD is toilet paper, ETF imploding will be fun to watch soon...
    To me, it's amazing that people will sell me their gold for my 'toilet paper' currency...but it's true. LOL
    Stacking since the late 1970's

  9. #9

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    Quote Originally Posted by Lawrence View Post
    To me, it's amazing that people will sell me their gold for my 'toilet paper' currency...but it's true. LOL
    Those are just the poor and desperate people, who are lost in so many ways. I'm giving discounts for payment for services in gold bullion myself, it's nice, have enough paper and digits already, flow of that is guaranteed.....
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

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